Photos of the Whole Foods interior work from 4/8/17

The 55+ Senior Housing at the West end of the Marketplace Mall is still in the framing stage and going up slowly.

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4/6/17

4/2/17

Some additional photos of the Whole Foods Building at the Kennesaw Marketplace Mall

Note:  Owner listed on permit is 'Whole Foods'

A Well-Known Activist Investor Finally Attacks Whole Foods Because, Well, It's in Really Sorry Shape

 (extracts from a longer article)

 

Brian Sozzi Brian Sozzi  Follow Lindsay Rittenhouse  Follow Apr 10, 2017 4:08 PM EDT

Even as it continued to lower prices on consumer staples -- which are supposed to be traffic drivers -- Whole Foods saw the number of transactions decline a stunning 3.9%. Its same-store sales have now fallen in six straight quarters, according to Bloomberg data.

The company blamed the weather for the awful start to the second quarter. For good measure, Whole Foods shocked everyone by saying it recently closed nine stores (once unthinkable), calling into question the past five years of aggressive store openings (100 or so in past three years, many of which are larger locations) and the brand's longer-term potential.

Whole Foods has lost between nine to 14 million customers over the last six quarters, Barclay's analyst Karen Short estimated in a recent note. Short believes Kroger (KR) has been one of the prime beneficiaries of the traffic exodus from Whole Foods as the traditional supermarket has ramped up its number of organic food offerings and discounts.

The "staggering" traffic declines, says Short, casts a dark cloud over Whole Foods' future.

Whole Foods has been facing competition from every direction, both online and in-store from major grocers such as its biggest rival, the grocery story chains, led by Kroger (KR) , as well as Trader Joe's, Costco (COST) , Sprouts Farmers Markets (SFM) and Natural Grocers (NGVC) .

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Both the car wash and Sun Trust Bank are up and running.

The 55+ Senior Housing is coming along.

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3/24/17

Build out work continues on the interior of the potential Whole Foods building.  Conflicting info is available as to whether or not WF will occupy the site and WF is being vague as an email shown below from them shows.

On 3/24 5-6 workers were doing light electrical work there, something that needs to be completed no matter who ends up in that store.

3/18/17

KENNESAW MARKETPLACE MALL 

The 52 acres of the Kennesaw Marketplace Mall will employ about 2,000 people in the $160,000,000 complex.  The retail space should be about 250,000 - 300,000 sq ft with 40 stores and restaurants.

The Whole Foods market, long set as a major ‘anchor’ tenant at the Fuqua mall may never open due to the restructuring of the Whole Foods company due to declining sales.  Comments from WF South are vague with ‘don’t call us - we’ll call you’ sort of replies to inquiries about their Kennesaw project.  The WF Harry’s Market in Marietta is reported to be closing. 

When the Regional mall is completed there will be a total of 19 restaurants near the Barrett and Cobb Parkway intersection, divided between the existing ones on the East side of Cobb Parkway and the new ones in the Marketplace Mall.  Far to many restaurants for those approx 65 acres in total, expect some of the new restaurants to close in 2017.

The 180 Overture at Barrett, Senior ‘Multifamily luxury apartments’ for those 55 and over are being developed and managed by Greystar and are located on the western end of the larger mall project.  

These units are 1 and 2 bedroom with either a private patio or balaony.  The buildings have elevators and amenities include a putting green, heated pool and walking trails.  Pricing is not available, but it is expected to be high.  

Some additional details are found at:  https://www.forrent.com/apartment-community-profile/1001825632